Jeff McLane and Zach Berman

UPDATE:

WASHINGTON -- The NFL Players Associated announced today that it has informed the league that it has renounced its status as the exclusive collective bargaining representation, according to a statement.

The union decertified by filing paper work with a federal court in Minneapolis. The NFLPA confirmed that it had filed an anti-trust suit against the league and will seek an injunction to block a lockout from the owners at midnight.

The NFLPA will now "move forward as a professional trade association with the mission of supporting the interests and rights of current and former professional football players," the union's statement read.

If there is a lockout the union files an anti-trust suit the league could be in for a long legal battle. Even though there was some movement on Friday mediator George Cohen said that "no useful purpose would be served" by further mediation now.

The league said it received the NFLPA's decertification notice at 4 p.m. and that the union left a deal on the table that included a 16-game season. The owners want an 18-game season.

FROM EARLIER:

WASHINGTON -- It comes down to this: the NFLPA wants 10 years of audited financial statements from the league or else they won't agree to another CBA extension. The union has given the league until 5 pm to decide.

Union leader DeMaurice Smith just told reporters of the NFLPA's stance. He said the league had made an offer but that "significant differences" remain.

Once again, the talks come down to players' demands for financial transparency before they give up any of their share of revenue, and owners' willingness to open up their books.